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The ITAT held that the CPC's adjustment of the assessee's claim of exemption under s.10(10AA)(ii) without issuance of the statutorily mandated prior intimation under the first proviso to s.143(1)(a) was invalid. The Tribunal found the proviso's insistence on intimation and consideration of the assessee's response to be jurisdictional; absence of such intimation vitiates proceedings under s.143(1). Consequently the intimation issued by the CPC and the resultant restriction of the exemption were set aside, and the assessee's appeal was allowed, with the assessment proceedings pursuant to that intimation declared invalid in law.
The ITAT held that the CPC's adjustment of the assessee's claim of exemption under s.10(10AA)(ii) without issuance of the statutorily mandated prior intimation under the first proviso to s.143(1)(a) was invalid. The Tribunal found the proviso's insistence on intimation and consideration of the assessee's response to be jurisdictional; absence of such intimation vitiates proceedings under s.143(1). Consequently the intimation issued by the CPC and the resultant restriction of the exemption were set aside, and the assessee's appeal was allowed, with the assessment proceedings pursuant to that intimation declared invalid in law.
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